Sharpland Industries is calculating is cost of Goods Manufactured year-end Sharlas accounting records show the following: The Raw Materials Inventory account had a beginning balance of $14.000 and an ending balance of $20.000. During the year, the company purchased 554.000 of direct material Director for the year old 120.000, while manufacturing overhead amounted to $160.000. The Work In Processinentory must had a beginning balance of 534.000 and an ending balance of 517.000. Assume that Raw Materials inventory contains only direct. Computer Cost of Goods Manufactured for the year int. The first step is to calculate the direct materials used during the year) Start by calculating the direct materials used during the year. Sharpland Industries Calculation of Direct Matera Used For Current Year Plus Less Direct Compute the cost of Goods Manufactured for the year Sharpland Industri Calculation of Cost of Goods Manufactured For Current Year Plus: Manuecturing coloured